 It's the end of the day, almost time for the bell How many options will you sell? Fire up your platform, get ready to enter But first, let's get the mindset centered Ay, ay, we follow the plan, that's how we get paid Test and trade it, have success Find what works for you and forget the rest Stats and probabilities is what we're about Time to dismiss greed and doubt Focus on the process, not the money And the profits will flow like honey Power our lives, let's start the show Come on trade hackers, get ready to go Zero-day options, time to make bank Get locked and loaded, then be ready to plank Ay What's up everybody, welcome to Power Hour Live Thursday, November 2nd Everybody's doing well Took two zero DTE trades today One was Rick, which just hit Before we jumped on The other was a short squeeze PM iron condor Which is, uh, doing okay at the moment For Power Hour, oh Power Hour Where did our premiums go? We are inverted my friends So we'll be doing a straddle And because we are up over 1% From the open, we'll be doing a short squeeze version In fact, I need to set up my template Right quick, pH squeeze straddle With my new November size Let's go ahead and save that one So I'm ready to roll Got a couple minutes before entry Where, uh, where did our strangles go? Yeah, such a, such a short time ago Like four days ago We were seeing 10 wide Now we're inverted Volatility obviously getting crushed again today VIX under 16 It's above 22 Just a short four days ago You need to buy some longs Longs are locked in So it's right in between strikes so Right now it looks like it would be the 15s See where it moves here in the next minute If it moves up, stick with the 15s If it moves down, it might be the 10s Got my chicken bone broth today I gotta say, I'm a bigger fan of the beef bone broth All right, looking like the 15s Trying to get filled at 10 bucks 990 Filled at 990 on the 15 straddle 2 to 1, yep Just the same strike I used for my PM iron condor as well So a nice, slow drift higher would be ideal See on my PM I got filled at 13 So at 780, I need to reduce my stop on my PM So PM 780 Tronch 1, I got filled at 990 So 595 Is my target to reduce my stop on Tronch 1 So I entered a new TGIF today It's up a little bit since I entered Yeah, our time fly is Yeah, it's pushing towards the upper break even I mean, the TZer line still stays fairly flat Even a little bit higher, but Too much higher tomorrow or or today I will most likely just need to close that just to kind of manage risk Get a little pullback tomorrow, that would be ideal Also entered a new time fly this morning In the NOV 24 cycle That one's already pushing up to the upper end of the range Not quite to uh I'll give it up to 43.25 before I would adjust that one But certainly been pushing since I entered Yeah, I've done them as low as like three days PT But you know you're just I One of the things I like about them is they're You know that TZer line is so flat for such a nice range That you don't have to you don't have to manage them super actively So I prefer kind of seven seven plus days Lipside that is on a three day if it stays in a nice tight range for Short period of time the profits can come quick So it's checking out cl we're not to our profit target yet, but let me see where this is trading 248 So it's profitable I think I'm I'm just gonna close the The oil strangle book the profits we have we're down to 42 DTE We get another spike in oil volatility. I'll just Put on a new one Little bit 248 All right, just posted that in the option selling channel S&P up 75 One and three-quarter percent Nasdaq up 250 Russell up 37 Russell's up two and a quarter percent today Dow at 500 one and a half percent I did uh, I did trade some long S&P futures, but pretty small just micros Still in a few of those hovering near our highs high today 43 15 currently at 43 14 Have that initial push within the first 10 minutes. We hit our upside expected move Pulled back chopped around and then made a big push up again We've pretty much been kind of sleepy sleepy grinding higher since Up over a percent from the open One point eight percent from yesterday's close, but a little over one percent from today's open my PM It's below 780 So I need to reduce that stop to four dollar Any bit of down movement it's gonna stop that out after stop reduction, but Lock it in. Hopefully we go up here a little bounce What else did you guys do today anything besides rick and anybody else in a PM iron condor? Dick K did the dick K special, of course Pt. Just rick ryan rick and p.m Speaking of ryan p Don't forget 30 minutes after the bell ryan p will be presenting his trade plan Let me um grab that link to repost while i'm thinking about it Popeye's chicken. I like I like some Popeye's chicken wuga It's good for the heart can't remember I can't remember the last time I was at a Popeye's chicken, but It is good. I guess no more interest rate hikes That's what the market's telling us until Jerome says so anyway Uh datalus. Why do I lock the price slices? Uh, sometimes I play with price slices. Sometimes I don't So yeah, no no reason Sometimes I like to stick it right in the middle of my graph Sometimes I like to stick it on price No reason though it happened to be locked because I was uh, I was looking at down 15 percent on a different different thing but Uh pt had my first one this week And so that'll that'll come out on the podcast uh as a podcast episode on monday Spread trading down to 805 I need 575 on tranche one to reduce my stop. Yeah, I've been a little uh Inconsistent on my episodes I want to get back to getting one out every week, but A lot going on these days But this will help Oh, you're right crish 595 I couldn't read my own handwriting nine look like seven I did believe you you're starting to build trust with me again crish Looking down to 730 Trunch two coming up in a few minutes I'm gonna be at a low premium straddle for trunch two Maro, did you ever do anything whenever the strikes are inverted? But the perform the performance of taking a straddle if the strikes are inverted That's been set on my list It's like the 15s if we hold here Again, I want to be locked and loaded on the 15s Yeah, so I don't yeah, because I don't actually trade the inverted strikes. I actually trade a straddle if they're inverted. So I was just I was curious what that would look like All right, 15s it is for trunch two Try to get filled at 450 Filled at 455 Yeah, like trunch one meach was kind of a tweener So I just I chose the one that I think the one I got in 15s were Just slightly closer To the price than the tens So yeah, that'd be I guess you'd have to Use the option omega data Just find you basically have to find all the dates that they were inverted and then Go back and do a separate test with straddles. I think I feel like I've done that before I may even have it but all right, so trunch two got in at 455 So 275 What I'm looking forward to reduce stop on trunch two Uh pt. I don't change the number of contracts now I I uh, I have my the number of contracts that I'm doing for the full month of november and I'll stick to that no matter what bumblebee Inverted strikes means that the puts are trading So if we're if we're trying to target Um Let's say we were trying to target six dollars of premium So you can see the puts Our excuse me the calls are the closest to six dollars or the 43 10 The closest to six dollars on the uh put side Are the 43 20 So the the puts are higher a higher strike than the calls You know, we want to be Essentially selling out of the money. So you'd be selling to in the money. You'd be going inverted so if if the if the strikes that we're trying to or if the price of the um If the price that we're trying to target Is inverted the the most narrow that I'll go as a straddle Trunch one is at 6 30 Need a little bit more It's been 6 20. It's the lowest I've seen 6 15 6 0 5 Looking for 5 95 Creeping into new highs of day 43 16 six dollars soft six flash And back up to 6 25 so five Needed to creep back up a little bit A few minutes till trunch three Ah very nice trading naked and back up to 6 70 Didn't quite get there Do you did you supply all that for elliott or did he he bring some screens from across the pond? LA you may just have to move to the us Just moved to florida back down to 6 0 5 6 5 95 there it is All right reducing my stop on trunch one Just in time to get ready for trunch three Look how close these look how close these five cent Longs are But my lungs for trunch three Looks like it might be the 15s again This could be really good or really bad Yep six to three agui Agui I gotta reset my templates up for my november all right, so 43 15 For trunch three Going in at 380 385 380 Some filled at 380 You guys stealing my orders again? Summit 375 All right summit 380 summit 375 Reinhardt welcome Uh, you can check my so I update my trading plan for power hour every month So you can check the trade plans channel right below this one Uh and see my uh trade plan for november So trunch one today. I did two to one, but all the the others are one to one That's what you'll find when you're in a uh Market that pushes up like this basically anything over half percent up from the open Doing two two to one Does does a decent amount better um in the uh zero let's see. I think it's yeah in the zero dte course channel you'll see the video and um And the examples of Order templates, but Order templates are based on your position size. So those are just What you want to do is is you can use those order templates and then just set them up Based on you know the size and the way that you're you're going to be trading it In fact, because I just changed my position sizes for november. So I if you noticed I was kind of Toggling through the position size because I don't even have my position uh my new order template set up yet Which maybe I'll just do that right now So for trunch one Well, there's some I need to delete here first I need to delete all these Yep all in on 43 15. Like I said, this could be really good or really bad I gotta keep an eye on trunch two It's at 365. I'm looking for 275 So while we're waiting, I'm gonna go through here and uh Fix up my order templates and toss Starting by deleting some old ones I wish they made it easier to do than this but If you guys know a better way And going through one-to-one deleting these let me know Yeah, that's what I've been doing too. I'd save an over them On some of these but some of these are just old. I need to Just get out of I have no idea what this one is first I need to clean these up a little bit. Yeah, some of these are just old ones. I'm trying to delete get out of here Problem is that when I set up the new ones, I just I copy it and then I save it as something new and then I got both of them in there Rice actions being real nice so far ladies and gentlemen 29 minutes to go though So don't spend your money yet trunch two trading at 330 Just doing a little house cleaning here Is that a hotel dick? When dick's internet's out he just goes to the wall dwarf Astoria Is that in tampa trunch two still trading at 330 looking for 275 Oh nice morrow all right, so I mean it's Wind percentage is right up there. Yeah only 17 only 17 occurrences, huh? Wait, it seemed like a more than that in uh Well, I guess it was just basically july and august so yeah, that's All right, good stuff I haven't I haven't run my first I've set up a couple. I just I haven't run anything yet Nice. Thanks morrow. I'm gonna I'm gonna save that I think I did that at one point, but I don't remember what I called it so Watch two down to three bucks I call this Watch two still hanging around three bucks. I need 275 down to 295 285 up to 16 We get vix just crushing down seven percent today again pushing new highs Yeah, dick K with all your love of automation I was thinking about you when I started going through trade steward wondering why you hadn't uh Done any of that yet? Yeah, I kind of I was kind of keeping tabs just kind of checking in every now and then on um tat trade automation toolbox with ib and then trade steward um Just kind of waiting for things to waiting for them to kind of wrinkle out and you know get get the wrinkles out of some of those issues But uh, I think we're I think we're getting close All right, so trance one trading at 550 Trance two trading at four Oh wait now Yeah, trance two and three trading at 450 Yeah tat is ibk r trade steward is uh TD All right hit a high of 43 18 early indication market on close imbalance 208 million buy side Trade steward can do stops as well. I just I don't think they can do trailing stops if I'm Remembering right? Yeah, they can do stop losses on spreads just not trailing Need tronche two to hover come back down and hover around 43 15 for a minute Which two back down to 350 Me likey vicks better in the in the 20s Still a lot of a lot of moves outside the expected daily range Waitly settle down for power hour in october Yeah, I heard you say that we'll get you've been using that That 10 wide Yeah, that's a nice feature that they would just close the shorts if there's no bids on the longs. That's That's pretty cool 15 minutes to go Yeah, it always it always feels like there's a good amount of premium left when you're doing straddles Daedalus, I saw uh, I think I remember seeing somebody ask that question in the trade steward channel and And the owner came in and said something to the effect of I think it does it pop up a warning? Maybe I don't know if anybody else here has experience with that yet, but I think it does something To help you avoid strike overlap all three early indications was 208 million buy side Final one coming out in three minutes So discount if it avoids the strike collision across different strategies. Is that only if the other strategies are in? trade steward If it was a manual traded Treats it the same way I got you decay Still haven't reduced trunch to stop yet still hanging around 350 It's going to need to come down towards 15s for that to trigger Come back down a little bit Oh, it flipped to 1.7 billion sell side Yeah, kris keep in mind with the expected move when you get down to this There's always a couple a couple points left at the end of the day. It doesn't go to zero Trying to create new highs on the day 19s The case fib's gonna repel it right here Repel it back down to the 15 Make it extra extra thick wuga All right, we can touch 43 20 if we just touch it and then come back down So i'm gonna start working some of my orders i'm gonna start with my p.m iron condor put that at for 30 yeah let's go four four even 425 Got 30 seconds till I start bailing some of these Build at 455 on my p.m iron condor 450 on trunch one 395 on trunch three And 370 on trunch two All out all winners All right, so let's see we got trunch One was in at 990 out at 450 Nice win there Trunch two in at 455 Out at 370 Trunch three in at 380 Out at 395 so 15 cent loser on trunch two actually But winner winner chicken dinner all together. All right my friends good stuff Even with the inverted Power hour still paid Can't beat that All right, so tomorrow is friday the third so chat will be streaming live in the morning And then we will be back for power hour All right, all take care. Have a good night. Talk to you soon